Infinity Property and Casualty Corporation (IPCC) Stock Rating Lowered by Zacks Investment Research

Infinity Property and Casualty Corporation (IPCC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Infinity Property is a property and casualty insurer. “

IPCC has been the topic of several other reports. Raymond James Financial, Inc. downgraded Infinity Property and Casualty Corporation from an outperform rating to a mkt perform rating in a report on Friday, January 20th. Keefe, Bruyette & Woods began coverage on Infinity Property and Casualty Corporation in a report on Tuesday, November 1st. They issued a market perform rating and a $89.00 target price on the stock.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 87.20 on Tuesday. Infinity Property and Casualty Corporation has a one year low of $73.27 and a one year high of $90.50. The stock has a market cap of $964.00 million, a price-to-earnings ratio of 29.86 and a beta of 0.65. The company has a 50-day moving average price of $87.87 and a 200 day moving average price of $84.34.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its earnings results on Thursday, November 3rd. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.83. Infinity Property and Casualty Corporation had a return on equity of 4.38% and a net margin of 2.18%. The company earned $378.10 million during the quarter, compared to the consensus estimate of $324.30 million. During the same period last year, the firm posted $1.41 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts expect that Infinity Property and Casualty Corporation will post $2.55 earnings per share for the current year.

In other news, VP Samuel J. Simon sold 4,500 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $87.70, for a total transaction of $394,650.00. Following the transaction, the vice president now directly owns 78,892 shares of the company’s stock, valued at $6,918,828.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.28% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan boosted its stake in Infinity Property and Casualty Corporation by 0.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,160 shares of the company’s stock worth $426,000 after buying an additional 40 shares during the period. Suntrust Banks Inc. boosted its stake in Infinity Property and Casualty Corporation by 2.1% in the third quarter. Suntrust Banks Inc. now owns 3,005 shares of the company’s stock worth $247,000 after buying an additional 62 shares during the period. SG Americas Securities LLC boosted its stake in Infinity Property and Casualty Corporation by 6.1% in the third quarter. SG Americas Securities LLC now owns 1,364 shares of the company’s stock worth $113,000 after buying an additional 78 shares during the period. PineBridge Investments L.P. boosted its stake in Infinity Property and Casualty Corporation by 6.0% in the second quarter. PineBridge Investments L.P. now owns 1,402 shares of the company’s stock worth $113,000 after buying an additional 79 shares during the period. Finally, US Bancorp DE boosted its stake in Infinity Property and Casualty Corporation by 8.0% in the second quarter. US Bancorp DE now owns 1,236 shares of the company’s stock worth $100,000 after buying an additional 92 shares during the period. Institutional investors own 97.33% of the company’s stock.

Infinity Property and Casualty Corporation Company Profile

Infinity Property and Casualty Corporation is a holding company that, through its subsidiaries, provides personal automobile insurance with a focus on the nonstandard market. The Company writes personal automobile insurance with a concentration on nonstandard automobile insurance, mono-line commercial vehicle insurance and classic collector automobile insurance.

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